Barrick Gold Corporation has announced that 16 scientific proposals have been selected to advance to Phase 2 of the innovative Unlock the Value program. These proposals contain creative approaches to several technologies, including microwave, laser, ultrasonics, electromagnetic, inorganic and organic chemistry, bioleaching and mechanics.

Launched in September 2007, the Unlock the Value program invited scientists to submit proposals for increasing silver recovery from the ore at Barrick’s Veladero mine in Argentina. Silver minerals in the ore are encapsulated in silica, and resist traditional extraction methods.

For a method or technology that is successfully implemented, Barrick will pay a performance bonus of $10,000,000.

Barrick Gold Corporation is a pre-eminent gold mining company with 27 operating mines and 20,000 employees worldwide. Headquartered in Toronto, Canada, Barrick's vision is to be the world's best gold company by finding, acquiring, developing and producing quality reserves in a safe, profitable and socially responsible manner.